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Dec 8, 2012
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industry estimates put the total amount of damage from superstorm sandy at $50 billion. insurance companies are expected to pick up between $10-$20 billion of that. that puts superstorm sandy at the top of the list ahead of hurricanes ike, ivan, and irene. monday we will look at why rebuilding from sandy is so expensive thanks to where she came ashore. ruben ramirez, seaside heights, new jersey. back here on wall street, tom, some interesting revolutions from netflix today saying it got a wells notice and being investigated by the securities and exchange commission. behind it is a very interesting debate going on. the reason for the investigation is that the ceo reid hastings had posted some information on his facebook page about developments at the company and the fec said you didn't disclose this property, should have been a press release or filing with the sec and raises new questions about social media and fair disclosure. >> tom: this is all about how technology is changing and regulations have a hard time susie keeping up with it. we see it with high frequency trad
industry estimates put the total amount of damage from superstorm sandy at $50 billion. insurance companies are expected to pick up between $10-$20 billion of that. that puts superstorm sandy at the top of the list ahead of hurricanes ike, ivan, and irene. monday we will look at why rebuilding from sandy is so expensive thanks to where she came ashore. ruben ramirez, seaside heights, new jersey. back here on wall street, tom, some interesting revolutions from netflix today saying it got a wells...
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Dec 6, 2012
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two of them released their estimates of how much hurricane sandy will cost them. travelers figures the storm will cost it $650 million. hartford pegged its storm losses as high as $350 million. analysts say the companies can absorb the impact. both stocks were higher. travelers rallied 4.9%, closing less than one dollar away from a new 52-week high. hartford added 2.9%. drug giant pfizer had encouraging news on an experimental breast cancer drug. with up to $6 billion in potential global sales, the stock rallied. shares jumped 1.9% on heavier than usual volume. while the breast cancer drug tests were positive, any regulatory approval wouldn't happen for at least a couple of years. three of the five most actively traded exchange traded products were up. the financial e.t.f. had the best gains, up 1.2%. and that's tonight's "market focus." >> susie: a tough day for investors in freeport mcmoran. the stock plunged 16% on news that the mining company is buying two oil and gas producers. it's paying $9 billion for plains exploration and production company and mcmoran e
two of them released their estimates of how much hurricane sandy will cost them. travelers figures the storm will cost it $650 million. hartford pegged its storm losses as high as $350 million. analysts say the companies can absorb the impact. both stocks were higher. travelers rallied 4.9%, closing less than one dollar away from a new 52-week high. hartford added 2.9%. drug giant pfizer had encouraging news on an experimental breast cancer drug. with up to $6 billion in potential global sales,...
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Dec 25, 2012
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but clear skies, sandy beaches, and highs in the 70's? not so much. and when you think about holiday decorating, florida probably isn't the first place that comes to mind either, but the holiday decor business is doing quite well in the sunshine state. >> the clients we're calling on are the rich and famous. they're professional athletes, they're industry leaders, and we're in the business of complete sales, service and installation for these types of people. >> reporter: david shindler has been in the christmas business for more than 20 years. he's a franchisee at holiday decorating firm christmas decor. >> we'll custom decorate well over a couple hundred homes this year, and part of that is complete custom interiors and custom exteriors. >> reporter: if you want your house to look like this, you'll have to have a lot of this. prices start around $1,500, average $3,000, and can run as much as $20,000 for some of their bigger commercial clients. shindler describes this waterfront fort lauderdale home as one of the more modest residences he's decoratin
but clear skies, sandy beaches, and highs in the 70's? not so much. and when you think about holiday decorating, florida probably isn't the first place that comes to mind either, but the holiday decor business is doing quite well in the sunshine state. >> the clients we're calling on are the rich and famous. they're professional athletes, they're industry leaders, and we're in the business of complete sales, service and installation for these types of people. >> reporter: david...
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Dec 7, 2012
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i think that the hurricane sandy may distort the numbers. we've seen it in some of the other high frequency data in the last couple of weeks. keep in mind tomorrow's labor market report will report on a snapshot of the labor market taken in the middle of last month. and that's when the hurricane and its aftermath were having their effects. >> so the consensus numbers from a survey of economists, they're expecting american businesses added 110,000 jobs it to their payroll. the unemployment rate staying around 7.9%. does that sit right with you. is that what you are seeing? >> probably somewhere around that maybe a little less. one of the problems is it is hard to gauge exactly what the impact of the storm will have. we know it's transitory, it's hard to say exactly how much numerically it will sub tract. if the number comes in lower than that i think a lot of people will say oh, it was probably the effect of the hurricane and they'll wait until the following month to see what kind of a rebound we get. >> let's talk a little bit about what we
i think that the hurricane sandy may distort the numbers. we've seen it in some of the other high frequency data in the last couple of weeks. keep in mind tomorrow's labor market report will report on a snapshot of the labor market taken in the middle of last month. and that's when the hurricane and its aftermath were having their effects. >> so the consensus numbers from a survey of economists, they're expecting american businesses added 110,000 jobs it to their payroll. the unemployment...
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Dec 5, 2012
12/12
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it, too, is likely to reflect temporary effects related to the aftermath of hurricane sandy. >> we're looking for only a 50,000 gain in jobs in november, well under that 170,000 average we've seen over the past three months. >> reporter: hurricane sandy's effects on hiring may be short- lived, but experts worry fiscal cliff concerns could result in a new storm brewing for workers looking to land a job in the coming weeks. suzanne pratt, "n.b.r.," new york. >> tom: citi and the financials lead the way higher on wall street, helping the dow top 13,000 again.at but a big drop in apple shares kept the nasdaq fromains.. by the closing bell, the dow was up 82 points, the nasdaq down 23, the s&p added two points. >> susie: investors were also encouraged by news that american workers were very productive this past summer, and that's good news for company profits. productivity increased at its fastest pace in two years, at an annual rate of 2.9% from july through september. that number blows away the initial estimate of 1.9%. erika miller takes a closer look at how technology is helping to boo
it, too, is likely to reflect temporary effects related to the aftermath of hurricane sandy. >> we're looking for only a 50,000 gain in jobs in november, well under that 170,000 average we've seen over the past three months. >> reporter: hurricane sandy's effects on hiring may be short- lived, but experts worry fiscal cliff concerns could result in a new storm brewing for workers looking to land a job in the coming weeks. suzanne pratt, "n.b.r.," new york. >> tom:...
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Dec 13, 2012
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the state attorney general has asked more than 75 charities to show where their sandy relief donations are going. >> these scammers tend to take advantage of people in emotional situations, when they're very concerned about things like disaster relief, and will respond to an ad or an email without really taking the extra step of checking. >> reporter: schneiderman hopes other states follow suit and ask non-profits to disclose information about the reputability of their organization. more than two billion people around the world are expected to tune in to tonight's concert, raising more than $60 million. ruben ramirez, "n.b.r.," new york. >> tom: that's "nightly business report" for wednesday, december 12. have a great evening, everyone. and you, too, susie. >> susie: tom, we're coming to the close of 12-12-12. and i hope it's been a good day for you. thanks for watching, everyone. join us online at www.nbr.com and back here tomorrow night. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> join us anytime at nbr.com. there, you'll find full episodes
the state attorney general has asked more than 75 charities to show where their sandy relief donations are going. >> these scammers tend to take advantage of people in emotional situations, when they're very concerned about things like disaster relief, and will respond to an ad or an email without really taking the extra step of checking. >> reporter: schneiderman hopes other states follow suit and ask non-profits to disclose information about the reputability of their organization....
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Dec 15, 2012
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lincoln back with us, the chief strategist, from the cme group in chicago, sandy, it is great to see you again. >> i appreciate it. >> are you suggesting investors ignore all of the fiscal cliff worry and the threat of that cliff? >> well, i don't know what we are going to do with the obsession about the fiscal cliff ever goes away, but i think you do have to sort of look beyond the fiscal cliff, not just to the fiscal cliff. there is a lot of obsession about it for understandable reasons, if they dig in their heels there is real fiscal drag involved, we don't think that is is that is the likely scenario, we think it is much more likely they downsize the size of the cliff and maybe knock half of it off and work on the rest in early 2013, but the more important thing, tom, i think is the secular things they can do in first half of 2013 to improve the trajectory of what we are doing with our entitlement programs and with tax reforms, and if they do that, that is what i mean by looking through the cliff, if those things happen, 200013 could set up and trigger a lot of good catalysts not
lincoln back with us, the chief strategist, from the cme group in chicago, sandy, it is great to see you again. >> i appreciate it. >> are you suggesting investors ignore all of the fiscal cliff worry and the threat of that cliff? >> well, i don't know what we are going to do with the obsession about the fiscal cliff ever goes away, but i think you do have to sort of look beyond the fiscal cliff, not just to the fiscal cliff. there is a lot of obsession about it for...
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Dec 7, 2012
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we had a nor'easter in 2006 that came about here, about where sandy came. if you think about it 100 years ago that would be a foot and a half down, it wouldn't even have touched this building. problem is 100 years going forward, if you go up three feet, in 100 years this middle of the road nor'easter is suddenly as high as the storm of record in 1933. >> reporter: the national oceanic and atmospheric administration finds norfolk is the second most vulnerable area its size to sea level rise in the country, right behind new orleans. norfolk is particularly prone to flooding because of its location-- flanked by the atlantic ocean, the chesapeake bay and the james river. it is also slowly sinking. the city is home to roughly 250,000 people, a major port and the world's largest naval base. it is of critical importance to our national security. nearly 45% of the city's economy is tied to defense spending. and in response to sea level rise, the navy has been replacing 14 piers at a cost of $35 million to $40 million apiece. >> sea level here is coming up for lots
we had a nor'easter in 2006 that came about here, about where sandy came. if you think about it 100 years ago that would be a foot and a half down, it wouldn't even have touched this building. problem is 100 years going forward, if you go up three feet, in 100 years this middle of the road nor'easter is suddenly as high as the storm of record in 1933. >> reporter: the national oceanic and atmospheric administration finds norfolk is the second most vulnerable area its size to sea level...
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Dec 11, 2012
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both the creek and the canal overtop their banks when sandy's storm surge reached them. the water lapped on to sidewalks and poured into buildings nearby. here in the green point neighborhood the newtown creek is less than a quarter mile away. one of new york's biggest sewage treatment plants, which was also in the flood zone, is just around the corner. resident jacqueline lomb barred says water poured into her house from both directions. >> the evening that sandy hit, we were hit with an eight-foot storm surge. that basically flooded my basement up through the ceiling and my landlord's basement here up through their first floor. so it was a very smelly noxious mix. >> reporter: the flood waters drained out of lomb barred's basement imikly but left a lot of muck behind. >> there was a lot of silt, a lot of mud, a lot of debris. sewage that flowed in and then flowed out. and the residue was left. >> reporter: the flood left residue in this person's waterfront furniture workshop too. >> there was an oily sheen, a slippery feel to everything. i saw a good number of things t
both the creek and the canal overtop their banks when sandy's storm surge reached them. the water lapped on to sidewalks and poured into buildings nearby. here in the green point neighborhood the newtown creek is less than a quarter mile away. one of new york's biggest sewage treatment plants, which was also in the flood zone, is just around the corner. resident jacqueline lomb barred says water poured into her house from both directions. >> the evening that sandy hit, we were hit with an...
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Dec 18, 2012
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two of the 20 first graders killed at sandy hook elementary. townspeople are still reeling. >> really sad. i didn't want to go back to work today. it hit me hard because i got two kids too. the same age that happened to these kids. it really hit hard, like a parent, like a dad. >> suarez: a somber weekend had concluded with last night's vigil at newtown high school about a mile away from the scene of the killings. ( applause ) police and emergency personnel got a standing ovation as they entered the auditorium. president obama met privately with the victims' families before addressing the shaken crowd. >> i can only hope it helps for you to know that you're not alone in your grief. that our world too has been torn apart, that all across this land of ours we have went with you. we pulled our children tight. and you must know that whatever measure of comfort we can provide, we will provide. whatever portion of sadness that we can share with you to ease this heavy load, we will gladly bear. newtown, you are not alone. >> suarez: the weekend also b
two of the 20 first graders killed at sandy hook elementary. townspeople are still reeling. >> really sad. i didn't want to go back to work today. it hit me hard because i got two kids too. the same age that happened to these kids. it really hit hard, like a parent, like a dad. >> suarez: a somber weekend had concluded with last night's vigil at newtown high school about a mile away from the scene of the killings. ( applause ) police and emergency personnel got a standing ovation as...
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Dec 14, 2012
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i understand you went to the sandy hook elementary school today after the shooting. tell us about it. >> yeah, i did go this morning. where i got was actually to, there is a fire station just around the corner from the sandy hook elementary school that they were using as a staging area for parents to come. i got there as a lot of parents were arriving and trying to get to where their kids are. and there was, i wouldn't call it a panic but there was a lot of concerned parents. and i saw a lot of relieved faces as they got there and saw their kids were safe. >> warner: did you get an opportunity to talk to any of the parents or any of the children? >> i did, yes. i spoke to a couple kids and to their parents. the children told me that they were in class doing just ode things, just like they ordinarily would. and they started hearing some banging. and the teachers told them that it was a lockdown. i was actually, i got to say, surprised that kids knew what a lockdown was, that is a sad statement. they practiced this before. and they all raced into a coatroom before they
i understand you went to the sandy hook elementary school today after the shooting. tell us about it. >> yeah, i did go this morning. where i got was actually to, there is a fire station just around the corner from the sandy hook elementary school that they were using as a staging area for parents to come. i got there as a lot of parents were arriving and trying to get to where their kids are. and there was, i wouldn't call it a panic but there was a lot of concerned parents. and i saw a...
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Dec 15, 2012
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think of the big storms like sandy. you know, that's where it really gets bad. a few inches of ocean rise normally isn't too bad, but if it's a couple feet, you're going to have bad problems. we can make changes and lessen the damage. >> thank you, paul. that's our show for tonight. i want to thank or guests for joining us tonight. we hope you'll visit our website kqed.org/thisweek to watch complete episodes, subscribe to our newsletter and pod cast and share your thoughts about the show. next week, tune in for seat and harvest, a look at the impact of climate change on agriculture in california. i'm uyl quan. good night. gwen: shock and tears from a small town in connecticut to the white house, tonight on "washington week." another mass shooting. a visibly shaken president. >> the majority of those who died today were children. beautiful kids between the ages of 5 and 10 years old. they had their entire lives ahead of them, birthdays, they had their entire lives ahead of them, birthdays, graduations
think of the big storms like sandy. you know, that's where it really gets bad. a few inches of ocean rise normally isn't too bad, but if it's a couple feet, you're going to have bad problems. we can make changes and lessen the damage. >> thank you, paul. that's our show for tonight. i want to thank or guests for joining us tonight. we hope you'll visit our website kqed.org/thisweek to watch complete episodes, subscribe to our newsletter and pod cast and share your thoughts about the show....
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Dec 18, 2012
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is to make sure that they are safe and happy. >> suarez: sandy hook itself remains closed. plans call for its students to be sent to a now vacant school in nearby monroe, but it was unclear when. back in washington, a string of democratic members of congress took to the house floor calling for new gun legislation. >> thank you, mr. speaker. we need to pass bold, necessary, overdue gun control legislation. if we do not, this will happen again. >> 20 innocents and their six teachers. more tears. more burials. but will we heed its meaning? will we break the gun lobby's spell? >> suarez: outside the capital, the head of the brady campaign to prevent gun violence said sandy hook has altered the political equation on guns. >> they say friday's horrific mass shooting at sandy hook elementary school changed everything. and it has. it is a tipping point. >> suarez: and white house spokesman jay carney announced president obama will back a push for new legislation. >> he is actively supportive of, for example, senator feinstein's stated intent to revive a piece of legislation that wo
is to make sure that they are safe and happy. >> suarez: sandy hook itself remains closed. plans call for its students to be sent to a now vacant school in nearby monroe, but it was unclear when. back in washington, a string of democratic members of congress took to the house floor calling for new gun legislation. >> thank you, mr. speaker. we need to pass bold, necessary, overdue gun control legislation. if we do not, this will happen again. >> 20 innocents and their six...
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Dec 28, 2012
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millions in the northeast struggle in the wake of hurricane sandy. >> the ravages of hurricane sandy remain a real and immediate problem in brooklyn. >> we support each other. we do what we can financially for each other but right now being scattered, it's hard. >> but on the whole, residents have risen to the challenge and restaurants have played an important role. >> we started cooking chicken for the people in the projects that were still home bound. >> almost -- someone just almost got run over. >> oh, here you, go perfect. hipsters and their hipster baby. >> he's a licensed new york city taxi driver. he gives food tours and he was our guide for the day. >> let's go. so our first stop is a little lunch counter. we're going to go -- it's certainly only jewish deli in the whole city that's closed for ramadan. so here we have to get brisket. so we get brisket on rye with gravy and a pastrami sandwich on rye with mustard. hey, how's it going? can we get a pastrami on rye with mustard, medium, please. >> wow, look at this. thank you. you can see how moist. dig in. >> best i've ever ta
millions in the northeast struggle in the wake of hurricane sandy. >> the ravages of hurricane sandy remain a real and immediate problem in brooklyn. >> we support each other. we do what we can financially for each other but right now being scattered, it's hard. >> but on the whole, residents have risen to the challenge and restaurants have played an important role. >> we started cooking chicken for the people in the projects that were still home bound. >> almost...
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Dec 14, 2012
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we'll ask b.m.o asset management's sandy lincoln. he's this week's "market monitor" guest. and why a new program to help student loan borrowers could mean a big win for high earners with graduate degrees. >> its medical marijuana business is a $2 billion a year industry already. it's projected to more than quad are you nell the next four years. but now colorado and washington state residents can use marijuana without a doctor's permission. while they are still breaking federal law, what impact could these new state laws have on the medical dope business? we have more of our recent conversation with tripp keber, c.e.o. of medical marijuana products maker dixie elixirs. >> you are looking at a $300 million in denver going to in excess of $600 million, this is about taxes, this is about jobs. the state of colorado we paid into a state coffers as an industry over $50 million in taxes, licenses and fees. we employ as an industry directly over 10,000 people in the state. and so there are not many states that can afford to turn a blind eye to that. so i certainly believe in the st
we'll ask b.m.o asset management's sandy lincoln. he's this week's "market monitor" guest. and why a new program to help student loan borrowers could mean a big win for high earners with graduate degrees. >> its medical marijuana business is a $2 billion a year industry already. it's projected to more than quad are you nell the next four years. but now colorado and washington state residents can use marijuana without a doctor's permission. while they are still breaking federal...
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Dec 7, 2012
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president o blamea-- obama will ask congress for $50 billion for hurricane sandy. they announced it today in a statement the money is to help rebuild road, tunnels and assist thousands of people forced from their homes. those are those are some of the day's major stories. now, back to judy. >> woodruff: the u.s. supreme court announced today that for the first time in its history it would review the contentious issue of same-sex marriage. for more on the story we turn to margaret warner. >> warner: the justices agreed to hear arguments in two cases: one is california's constitutional ban on same-sex marriage, adopted by voters as referendum proposition 8. it was challenged on grounds that gay citizens have the same constitutional right to marry as heterosexuals. the justices will also review a provision of the federal "defense of marriage act" or doma that deprives legally married gay couples of federal benefits that are available to heterosexual couples. same-sex marriage is legal or will be soon in nine states and the district of columbia. but 31 states have amen
president o blamea-- obama will ask congress for $50 billion for hurricane sandy. they announced it today in a statement the money is to help rebuild road, tunnels and assist thousands of people forced from their homes. those are those are some of the day's major stories. now, back to judy. >> woodruff: the u.s. supreme court announced today that for the first time in its history it would review the contentious issue of same-sex marriage. for more on the story we turn to margaret warner....
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Dec 18, 2012
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we continue our coverage of the shooting at sandy hook elementary school with john miller. he is a former fbi official and also my colleague at cbs news. also joining us dr. jeffrey lieberman, chairman of psychiatry at columbia university and director of the new york state psychiatric institute and richard aborn of the citizen's crime collision of new york city. i'm pleased to have all of them here. i begin with john miller. so what more do we know this evening about the killer, about his mother, about his motive. >> what we know about the kill certificate that he apparently had planned to do much more an much worse than he actually accomplished, which is hard to fathom. but what we are told now by police are that not only did he have multiple weapons which we knew and not only did they recover multiple shell cases from the shots he fired, but he also possessed, and i'm quoting now, hundreds of rounds of unspent ammunition that he brought with him, possibly with the intent to go through. so this is a school that had 600 students. and apparently he came armed with enough wea
we continue our coverage of the shooting at sandy hook elementary school with john miller. he is a former fbi official and also my colleague at cbs news. also joining us dr. jeffrey lieberman, chairman of psychiatry at columbia university and director of the new york state psychiatric institute and richard aborn of the citizen's crime collision of new york city. i'm pleased to have all of them here. i begin with john miller. so what more do we know this evening about the killer, about his...
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Dec 16, 2012
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sandy hook elementary school teaches ch >>> question. the federal assault weapons ban was a federal law in 1994. that law prohibited the manufacturing of semiautomatic firearms, so-called assault weapons, for civilian use. the ban was passed by congress on september 13th, 1994, and signed into law by president bill clinton. the 10-year law expired on september 13th, 2004. there have been multiple attempts to renew the weapons law ban but no bill has been legislated. will president obama revive the federal federal assault weapons ban? pat buchanan. >> john, the president had both houses of congress with him in 2009 for two years, and he didn't do it then. i doubt if he will try it now, but he may do it. but take a look at what happened up here. this individual came in and murdered his mother, who was a teacher, i believe of the kindergarten kids and may have murdered his father. you've got a did he meanted or insane individual who shouldn't have had any gun at all. but there were people that came to that school with assault weapons. all t
sandy hook elementary school teaches ch >>> question. the federal assault weapons ban was a federal law in 1994. that law prohibited the manufacturing of semiautomatic firearms, so-called assault weapons, for civilian use. the ban was passed by congress on september 13th, 1994, and signed into law by president bill clinton. the 10-year law expired on september 13th, 2004. there have been multiple attempts to renew the weapons law ban but no bill has been legislated. will president...
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Dec 11, 2012
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the insurance information institute estimates insured losses from sandy will likely run around $19 billion, making it the third costliest natural disaster behind katrina and andrew. >> the cost of living is higher, houses are more expensive, so that's going to inflate our costs all the way around. >> reporter: insured losses are just one part of the equation. uninsured losses will likely run into the tens of billions of dollars. jim beukholt's is the third generation owner of the ben franklin shop. >> we didn't have flood insurance, so we have to take a loss on everything. >> reporter: sandra gerber's vacation home didn't have any flood insurance, either. nearly two feet of water means her recently remodeled home will have to be gutted. >> i don't have flood insurance. i don't have hurricane insurance. i just have the normal fire, theft liability. >> reporter: but with the high cost to rebuild, where everything from sheet rock to lumber are more expensive, residents worry that two big storms in two years will cause insurance premiums to rise and property values to decline. ruben ramirez, n
the insurance information institute estimates insured losses from sandy will likely run around $19 billion, making it the third costliest natural disaster behind katrina and andrew. >> the cost of living is higher, houses are more expensive, so that's going to inflate our costs all the way around. >> reporter: insured losses are just one part of the equation. uninsured losses will likely run into the tens of billions of dollars. jim beukholt's is the third generation owner of the...
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Dec 31, 2012
12/12
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the specific story of hurricane sandy which obviously affected millions of people and really caught the public's imaginationment but it didn't end. coverage of other hurricanes h there is a beginning, a middle and an end. the fact is what sandy did or seems to have done is to take the idea of climate change from an abstraction, something that scientists and experts debated, to something that millions of people along the east coast and in manhattan and staten island and the other boroughs in new york city experienced for themselves and it started a debate. we don't know obviously what the long-term consequences are, but it does suggest there is something different about this story and its long-term implications. >> woodruff: and it's interesting, michael, because we've had big storms in this country before. >> sure. >> woodruff: but there was something different about this one? >> i think people are getting a little more alert to it politically. and one thing that historians of the future do is if something terrible happens, if climate change over the next 50 years or so achieve great in
the specific story of hurricane sandy which obviously affected millions of people and really caught the public's imaginationment but it didn't end. coverage of other hurricanes h there is a beginning, a middle and an end. the fact is what sandy did or seems to have done is to take the idea of climate change from an abstraction, something that scientists and experts debated, to something that millions of people along the east coast and in manhattan and staten island and the other boroughs in new...
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Dec 1, 2012
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. >> tom: super storm sandy keeps showing up in some economic data. this time: consumer spending. spending fell 0.2% in october. it was expected to be up that much. stocks were mixed with continued nervousness about the fiscal cliff. the dow gained just three points, the nasdaq lost nearly two. the s&p 500 was virtually unchanged. on the week, the dow up just barely. the nasdaq the biggest gainer: up almost 1.5%, the s&p up half a percentage point. >> susie: investors took a bite out of yum brands today. the stock tumbled 10% after the parent of k.f.c. and pizza hut said its business in china is slowing. yum's c.e.o. warned that china sales will fall by 4% in the fourth quarter, that's a big drop from the same period a year ago when sales surged 21%. blaming the weak chinese economy, yum also said it plans to reduce the number of restaurant openings in the asian nation. yum operates roughly 5,000 restaurants in china, accounting for half of its total sales. >> susie: joining us now with more on the chinese consumer and the economy, nicholas consonery, asia analyst at the eurasia g
. >> tom: super storm sandy keeps showing up in some economic data. this time: consumer spending. spending fell 0.2% in october. it was expected to be up that much. stocks were mixed with continued nervousness about the fiscal cliff. the dow gained just three points, the nasdaq lost nearly two. the s&p 500 was virtually unchanged. on the week, the dow up just barely. the nasdaq the biggest gainer: up almost 1.5%, the s&p up half a percentage point. >> susie: investors took a...
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Dec 27, 2012
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hurricane sandy. tragedy in ct. >> none of the events out there were feel good factor events. it was all for consumer morale. >> when you look at the weakness this holiday season, how much of the blame do you put on retailers for not having inspiring merchandise and how much of it are just factors beyond their control like the economy and the fiscal cliff? >> i think overall it was more probably 70 to 80% factors beyond the retailer's control. i think retailers had creative merchandise but i think the news didn't lead to a feel good factor. >> in any economy, good or bad, you always have some winners. who did really well this year? >> well, it looks like in terms of who did well so far, companies like american eagle outfitters limited, michael cors, macy's' tj and i would say costco was also a winner. >> on the flip side were there retailers that you had high hopes for going into the season but just didn't deliver in the end. >> certainly we will see some becoming more promotion al, some of the children's retailers, whether it was impacted by weather or there was competitive p
hurricane sandy. tragedy in ct. >> none of the events out there were feel good factor events. it was all for consumer morale. >> when you look at the weakness this holiday season, how much of the blame do you put on retailers for not having inspiring merchandise and how much of it are just factors beyond their control like the economy and the fiscal cliff? >> i think overall it was more probably 70 to 80% factors beyond the retailer's control. i think retailers had creative...
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Dec 29, 2012
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yeah, you know, the election -- the two biggest issues for environmentalists this year were hurricane sandy, which actually convinced a lot of people who were on the fence about climate change that the oceans really are rising and can affect us, not just polar bears, and the second big thing was the election. the re-election of obama locked in place the doubling of the gas mileage standards, new rules that are coming out on greenhouse gases, no more offshore oil drilling in new places, things that romney took a different view on. and in california there were three or four big environmental measures as well. voters in san francisco rejected overwhelmingly a measure that would have studied draining hetechi, i think setting back that movement decades, frankly. prop 37, the gm food thing, i think that sets back that movement. you know, they weren't able to make a compelling case to the public, even though they were out-spent, that genetically modified food is harmful to eat. i think that's part of the reason they lost. >> is that a victory for science or a defeat? >> we've been eating genetical
yeah, you know, the election -- the two biggest issues for environmentalists this year were hurricane sandy, which actually convinced a lot of people who were on the fence about climate change that the oceans really are rising and can affect us, not just polar bears, and the second big thing was the election. the re-election of obama locked in place the doubling of the gas mileage standards, new rules that are coming out on greenhouse gases, no more offshore oil drilling in new places, things...